How Much More Money Would Steve Schwarzman Make If He Had No Salary?

Dwight Cass at BreakingViews runs some numbers to figure out how Steve Schwarzman might stand to make hundreds of millions if he reduces his salary to nothing.

A canny accountant might argue that Mr. Schwarzman should draw no salary, to maximize value of his stake. That might also help the firm brush off inevitable fat-cat criticism - and it would benefit its soon-to-be-shareholders, who would likewise enjoy a higher value for the company. In that case, investors in the public markets may find something to like about their long-time critic at Blackstone after all.